-$0.31 EPS Expected for Golar LNG Limited (NASDAQ:GLNG) This Quarter

Brokerages expect that Golar LNG Limited (NASDAQ:GLNG) will report earnings per share (EPS) of ($0.31) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Golar LNG’s earnings, with the lowest EPS estimate coming in at ($0.52) and the highest estimate coming in at ($0.15). Golar LNG reported earnings per share of ($0.38) in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.4%. The business is expected to report its next quarterly earnings results before the market opens on Thursday, August 29th.

According to Zacks, analysts expect that Golar LNG will report full year earnings of ($0.64) per share for the current fiscal year, with EPS estimates ranging from ($0.92) to ($0.37). For the next year, analysts anticipate that the business will post earnings of $0.76 per share, with EPS estimates ranging from ($0.38) to $1.49. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Golar LNG.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings results on Tuesday, May 21st. The shipping company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.11). Golar LNG had a negative return on equity of 2.93% and a negative net margin of 52.68%. The business had revenue of $97.79 million for the quarter, compared to analysts’ expectations of $88.87 million.

A number of brokerages recently commented on GLNG. Cowen restated an “outperform” rating and set a $22.00 target price (down from $30.00) on shares of Golar LNG in a report on Tuesday, June 25th. Zacks Investment Research upgraded Golar LNG from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Monday, April 29th. BidaskClub cut Golar LNG from a “sell” rating to a “strong sell” rating in a report on Thursday, August 8th. Stifel Nicolaus lowered their target price on Golar LNG from $30.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday. Finally, TheStreet cut Golar LNG from a “c-” rating to a “d+” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. Golar LNG presently has an average rating of “Buy” and a consensus target price of $31.11.

Golar LNG stock traded up $0.09 during midday trading on Wednesday, reaching $13.37. 1,046,076 shares of the stock traded hands, compared to its average volume of 1,019,922. The company has a 50-day simple moving average of $16.12 and a two-hundred day simple moving average of $19.06. Golar LNG has a 12-month low of $12.43 and a 12-month high of $30.29. The firm has a market cap of $1.35 billion, a PE ratio of -35.18 and a beta of 0.66. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89.

A number of institutional investors have recently made changes to their positions in GLNG. Massey Quick Simon & CO. LLC acquired a new stake in Golar LNG in the 1st quarter valued at about $42,000. Capital Bank & Trust Co acquired a new stake in Golar LNG in the 2nd quarter valued at about $43,000. Resources Investment Advisors LLC. acquired a new stake in Golar LNG in the 2nd quarter valued at about $55,000. Nisa Investment Advisors LLC raised its position in Golar LNG by 674.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,445 shares of the shipping company’s stock valued at $64,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Aperio Group LLC acquired a new stake in Golar LNG in the 2nd quarter valued at about $92,000. Institutional investors own 67.80% of the company’s stock.

Golar LNG Company Profile

Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.

Read More: Options Trading

Get a free copy of the Zacks research report on Golar LNG (GLNG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Golar LNG (NASDAQ:GLNG)

Receive News & Ratings for Golar LNG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG and related companies with MarketBeat.com's FREE daily email newsletter.